Ford Takes Stake In India Plant

December 29, 1991

Ford Motor Co. said its climate-control division agreed to buy a 56 percent stake in a joint venture in India for $5.12 million. The venture will produce aluminum radiators. The venture will be with Maruti Udyog Ltd., which makes four passenger-car models with Japanese technology. Maruti Chairman R.C. Bhargava told reporters that Maruti and Sumitomo Corp. of Japan will hold the remaining 44 percent of the stock in the venture. A plant in Bhiwadi will produce 300,000 radiators a year in one shift beginning in February 1993, Bhargava said.